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Macro & Micro

Finance Minister Enoch Godongwana
Treasury snafu complicates fines process for dodgy auditors
16th January 2024 By: News24Wire

The Finance Ministry has been forced to re-gazette the maximum fines that can be imposed on auditors and auditing firms for misconduct after the words "per charge" were omitted for two of the... 


Alexforbes appoints Mpho Molopyane as chief economist
15th January 2024 By: Schalk Burger

JSE-listed financial services company Alexforbes Investments has appointed Mpho Molopyane as chief economist, with effect from December 1, 2023. She will be responsible for formulating the... 


Busy week for DMRE as it hosts IPP bidders conferences and IRP workshop
Busy week for DMRE as it hosts IPP bidders conferences and IRP workshop
15th January 2024 By: Terence Creamer

The Department of Mineral Resources and Energy (DMRE) and the Independent Power Producer Office (IPPO) have a busy week ahead, with three virtual bidders conferences to be hosted over Wednesday and... 


Finance Minister Enoch Godongwana
Godongwana warns of difficult budget next month
15th January 2024 By: Bloomberg

South Africa’s finance minister warned that next month’s budget will be a “difficult one” as the nation’s ability to service its growing debt remains a challenge. Enoch Godongwana will table the... 


BLSA CEO Busi Mavuso
Mavuso warns populist politicking ahead of elections can harm reform efforts
15th January 2024 By: Marleny Arnoldi

Business Leadership South Africa CEO Busi Mavuso foresees a challenging year ahead for business, given the record number of elections that lie ahead. This, coupled with an unprecedented level of... 


Trade, Industry and Competition Minister Ebrahim Patel
US agrees preliminary deal with Africa on extending Agoa by ten years, says Patel
12th January 2024 By: Bloomberg

The US has reached preliminary agreement with African nations to extend their preferential trade access by another decade, pending approval by Congress, South Africa’s trade minister said. "We... 


IEA executive director Fatih Birol
World powers ahead with renewables as South Africa’s draft plan signals pullback
11th January 2024 By: Terence Creamer

While South Africa’s latest draft electricity plan is signalling a pullback in renewables investments for the period to 2030 relative to the prevailing policy, the rest of the world is powering... 


Developing countries unlikely to see higher climate investment amid global growth slowdown
11th January 2024 By: Schalk Burger

Global growth is projected to slow for the third year in a row, reaching 2.4% in 2024 from 2.6% in 2023, significantly below the 2010s average and the slowest half-decade of gross domestic product... 


The scaled-up gas-to-power capacity allocation in the draft IRP would initially require LNG imports
No plan yet for public hearings into gas-heavy draft IRP 2023
10th January 2024 By: Terence Creamer

The Department of Mineral Resources and Energy (DMRE) has belatedly released the background technical information that has been used to inform the assumptions included in the draft Integrated... 


South Africa stocks lose $50bn in eight-year foreign exodus
South Africa stocks lose $50bn in eight-year foreign exodus
10th January 2024 By: Bloomberg

It’s been nearly a decade of waning foreign interest in South African stocks, with outflows exceeding $50-billion in that time. Last year was the eighth year in a row that foreign investors dumped... 


African nations dominate top 10 economic growth spots in 2024
African nations dominate top 10 economic growth spots in 2024
9th January 2024 By: Bloomberg

Africa faces economic headwinds this year, but some of the continent’s brightest sparks are shading it in a more hopeful light. Six of the top-10 performing economies in the world are forecast to... 


coal fired power stations
Global climate action insufficient to meet 2050 goal of 1.5 °C limit – report
8th January 2024 By: Darren Parker

Global emissions, which are continuing to rise by 1.5% a year, must be cut by 7% every year until 2030 to limit global warming to 1.5 °C, as agreed by countries that signed the Paris Agreement in... 


Busa energy and environment desk head Happy Khambule
Busa warns that lack of detail in IRP 2023 makes it impossible to assess plan’s credibility
8th January 2024 By: Terence Creamer

Business Unity South Africa (Busa) will approach the Department of Mineral Resources and Energy (DMRE) to secure the technoeconomic information that has been used to inform the assumptions... 


Professor Raymond Parsons
Policy uncertainty lower in fourth quarter, but remains highly elevated – NWU
8th January 2024 By: Schalk Burger

The North-West University (NWU) Business School Policy Uncertainty Index (PUI) for the fourth quarter of 2023 showed a welcome easing to 65.5 from its 71.8 in third quarter. However, the presence... 


The Durban Container Terminal
Absa PMI ends 2023 on stronger footing as December business activity rises
8th January 2024 By: Darren Parker

Financial institution Absa’s Purchasing Managers’ Index (PMI) closed out 2023 on a somewhat stronger footing, rising by 2.7 points to 50.9 index points in December.  Absa said on January 8 that... 


Fed pivot will dominate year of rate cuts in turn of global cycle
8th January 2024 By: Bloomberg

The coming 12 months are shaping up as the year of the interest-rate cut. After racing ahead with the most aggressive tightening campaign in decades during 2022 and 2023, central banks around the... 


South African Rand weakens ahead of economic indicator
South African Rand weakens ahead of economic indicator
19th December 2023 By: Reuters

South Africa's Rand was slightly weaker in early trade on December 19, ahead of a leading business cycle indicator release that is likely to provide clues about the economic health. At 08.18, the... 


UK to implement carbon levy on imported goods by 2027
18th December 2023 By: Reuters

Britain will implement a new carbon import levy on some products from 2027 to help to protect businesses against cheaper imports from countries with less strict climate policies, the government... 


South Africa moves to procure 5GW of renewables, 2GW of gas-to-power, 615 MW of battery storage
South Africa moves to procure 5GW of renewables, 2GW of gas-to-power, 615 MW of battery storage
14th December 2023 By: Terence Creamer

The South African government has released three requests for proposals (RFPs) for new electricity generation and storage capacity, including 5 000 MW of new wind and solar, 2 000 MW of gas-to-power... 


The SARB logo
FDI inflows slow in the third quarter – SARB
14th December 2023 By: Reuters

South Africa recorded reduced foreign direct investment inflows of R26-billion ($1.40-billion) in the third quarter of 2023, from R53.8-billion in the second quarter, central bank data showed on... 


The Klipheuwel wind farm
South Africa launches renewables procurement round for 5 000 MW of wind and solar
14th December 2023 By: Terence Creamer

The Department of Mineral Resources and Energy (DMRE) has released the much-anticipated and delayed seventh bid window (BW7) of the Renewable Energy Independent Power Producer Procurement Programme... 


South Africa takes a major step toward fixing work visa mess
13th December 2023 By: Bloomberg

South Africa’s home affairs minister signed planned changes to work permit regulations aimed at fixing a bureaucratic morass that’s frustrating the country’s biggest investors and exacerbating a... 


Economic transactions index continued its decline in November
13th December 2023 By: Schalk Burger

Payments infrastructure company BankservAfrica's Economic Transactions Index (BETI) reached 130.4 in November, which is the exact same figure as November 2022, slipping from the level of 130.8... 


Public Works and Infrastructure Minister Sihle Zikalala
Zikalala vows to ensure government contractors are paid on time
13th December 2023 By: Darren Parker

Public Works and Infrastructure Minister Sihle Zikalala has vowed to intensify Operation Pay-on-Time and urgently put an end to the failure of government to pay service providers in the... 


Sacci BCI rises, but meaningful momentum lags
13th December 2023 By: Marleny Arnoldi

The Business Confidence Index (BCI) published by the South African Chamber of Commerce and Industry (Sacci) has nudged up by 2.9 index points to 111.5 in November, from 108.6 in October. The BCI... 


Nedbank acquires Eqstra to boost fleet management
12th December 2023 By: Schalk Burger

Financial services firm Nedbank Group has entered into an agreement to acquire 100% of the issued share capital of fleet management solutions provider Eqstra Investment, subject to regulatory... 


Electricity Minister Kgosientsho Ramokgopa
South Africa to release 2 500 MW nuclear RFP by March, despite electricity plan review
12th December 2023 By: Terence Creamer

The South African government will publish a request for proposals (RFP) for 2 500 MW of new nuclear capacity by March 2024, following the National Energy Regulator of South Africa’s (Nersa’s)... 


Six trucks set alight on N11 amid KZN protests, traffic affected by 'spillages'
11th December 2023 By: News24Wire

Trucks have been set alight by protesters along the N11, near Amajuba Pass in KwaZulu-Natal. Six trucks were set alight when protests erupted along the N11 near Amajuba Pass in Charlestown,... 


Minister in the Presidency Khumbudzo Ntshavheni
Ntshavheni confirms draft IRP 2023 contains ‘significant’ revisions, but offers no clarity on consultation process
11th December 2023 By: Terence Creamer

Minister in the Presidency Khumbudzo Ntshavheni has confirmed that the draft Integrated Resource Plan (IRP) approved by Cabinet for public comment includes two time horizons as well as significant... 


generic doctor with stethoscope
Passage of NHI Bill would spell disaster for the health sector – BLSA
11th December 2023 By: Darren Parker

Business Leadership South Africa CEO Busi Mavuso has warned of the deteriorating health sector without the prospect of recovery, owing in large part to the passage last week of the National Health... 


Electricity Minister Kgosientsho Ramokgopa has confirmed that the IRP update contains a revised decommissioning schedule for Eskom’s aged coal power stations.
IRP update approved by Cabinet includes new coal decommissioning schedule
10th December 2023 By: Terence Creamer

Electricity Minister Kgosientsho Ramokgopa reports that Cabinet has approved the release of an updated Integrated Resource Plan (IRP) for public comment and also confirms that the document contains... 


Metalworker
Seifsa warns of dire consequences if govt fails to intervene on AMSA longs closure
8th December 2023 By: Terence Creamer

The Steel and Engineering Industries Federation of Southern Africa (Seifsa) is calling on government to take urgent and decisive action to support the domestic steel sector following ArcelorMittal... 


M&R's offices in Bedfordview, Gauteng
M&R's shares rise on further debt reduction
8th December 2023 By: Creamer Media Reporter

Multinational engineering and construction group Murray & Roberts (M&R) says it has made meaningful progress in reducing its debt with its consortium of South African banks. Following on from the... 


Three Itac commissioners reappointed until 2028
8th December 2023 By: Schalk Burger

Three International Trade Administration Commission of South Africa (Itac) commissioners Phozisa Mbiko, Wandile Sihlobo and Etienne Vlok, have been reappointed by President Cyril Ramaphosa as... 


Public Enterprises Minister Pravin Gordhan
Gordhan: Law enforcement is not acting against corruption
8th December 2023 By: News24Wire

Public Enterprises Minister Pravin Gordhan has blasted law enforcement agencies, saying that they must come to the fore to address state capture and corruption at State-owned entities.  Addressing... 


Eskom Komati power station
Eskom acknowledges difficult trade-offs ahead as it pursues energy transition
7th December 2023 By: Darren Parker

State-owned utility Eskom is expecting to have to make “difficult trade-offs” in its pursuit of a just energy transition (JET) strategy, as it grapples with ongoing short-term operational struggles... 


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